The board of directors of Auto Italia Holdings Limited announced that Mr. Li Shaofeng has been appointed as an executive Director of the Company with effect from 28 February 2023. The biographical details of Mr. Li are set out below: Mr. Li, aged 55, obtained a bachelor degree in Automation from the University of Science and Technology Beijing. Mr. Li has more than 20 years of extensive experience in management of listed companies, mergers and acquisition and investments, and has a deep understanding in the automotive and components market.

Prior to joining the Company, Mr. Li has served as a director of eight companies listed on The Stock Exchange of Hong Kong Limited including but not limited to Shougcheng Holdings Limited, Shougang Fushan Resources Group Limited, Shougang Century Holdings Limited and BeijingWest Industries International Limited from March 2000 to October 2019. Mr. Li was a non-executive director of Mount Gibson Iron Limited, a company listed on the Australian Securities Exchange Limited from February 2012 to December 2019. He is currently a director and the general manager of CTF VMS Smart City Development Limited, a company incorporated in Hong Kong with limited liability, of which Mr. Chong Tin Lung Benny is also a director.